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Cyprus News Agency: News in English, 12-11-06

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>


CONTENTS

  • [01] FM says Europe and Asia must cooperate to overcome crisis
  • [02] European Commission approves Cypriot bank guarantee scheme
  • [03] ECOFIN on Friday to discuss 2013 EU budget
  • [04] Kyprianou and Kox discuss Cyprus issue and economic crisis
  • [05] Cyprus EU Presidency organizes conference on Police and Customs

    Cooperation

  • [06] Cyprus' role for energy sufficiency in Europe discussed during

    Presidency Conference


  • [01] FM says Europe and Asia must cooperate to overcome crisis

    The Minister of Foreign Affairs Erato Kozakou-Marcoullis concluded Tuesday a two-day visit to Lao People's Democratic Republic, where she represented Cyprus at the 9th Asia-Europe Meeting (ASEM) summit. The summit centered on a number of issues of common interest to European and Asian countries.

    Marcoullis reiterated the need for closer cooperation between Europe and Asia, both as a way for overcoming current economic difficulties, but also in order to broaden dialogue in addressing global issues. "

    The ASEM 9 Summit offers a significant opportunity for European and Asian partners to come closer together build more bridges and continue the dialogue that commenced under the ASEM umbrella in 1996" she noted. She also pointed out that "as the current Presidency of the Council of the European Union, one of Cyprus' priorities has been to strive toward a Europe with a stronger voice in the world".

    [02] European Commission approves Cypriot bank guarantee scheme

    The European Commission has authorised, under EU state aid rules, a Cypriot state guarantee scheme for credit institutions until 31 December 2012.

    According to the Commission, the purpose of the scheme is to facilitate the access of eligible credit institutions to medium-term funding. This will help maintaining stability in the Cyprus financial sector without creating undue distortions of competition, in line with EU state aid rules.

    In October 2012, Cyprus notified plans to introduce a public guarantee scheme for credit institutions. The guarantees will be covering, against remuneration and eligible collateral, new loans concluded and/or new bonds issued before 31 December 2012, with a maturity of up to five years.

    [03] ECOFIN on Friday to discuss 2013 EU budget

    The Economic and Financial Affairs Council which will take place on Friday under the Cyprus EU Presidency will provide guidance to the Presidency for the negotiations with the European Parliament on the 2012 EU budget which takes place within the Conciliation Committee meeting to be held on the same day.

    The Conciliation Committee is composed of 27 members of the Council and an equal number of members of the European Parliament. If the Committee reaches an agreement on a joint text, the Council and the European Parliament will have to formally approve it within 14 days.

    In order to take into account the current budgetary constraints in the member states, the Council is seeking to limit the payments` increase to 2.79%, which corresponds to an amount of EUR 132.70 billion. The Council wishes to target EU spending on measures enhancing growth and jobs: the biggest increase (+6.71% compared to 2012) would go to heading 1 (sustainable growth).

    [04] Kyprianou and Kox discuss Cyprus issue and economic crisis

    The Cyprus issue and the economic crisis were discussed in a meeting between leftwing AKEL Secretary General Andros Kyprianou and Chairman of the Party of the United European Left in the Parliamentary Assembly of the Council of Europe Tiny Kox. Kyprianou and Kox had a meeting on Tuesday in Nicosia.

    In statements Kyprianou thanked Kox for the positions of principles of the United European Left on Cyprus question and for the support the Party provides on President Christofias' efforts to find a viable and just solution to the problem.

    Kox said that it is an honour that AKEL is part of the United Left Party in the Parliamentary Assembly of the Council of Europe. He also expressed his admiration for the Government and President Christofias' efforts to recover from the enormous economic crisis, which was not invented, as he said, by this Government and this President.

    [05] Cyprus EU Presidency organizes conference on Police and Customs Cooperation

    Ways to further develop police and customs cooperation in the EU will be discussed at a conference organized in Brussels by the Cyprus EU Presidency in collaboration with the European Commission.

    The two-day conference will examine the possibility of the use of Europol's SIENA channel at the centers for police and customs cooperation, in order to improve the exchange of information between these centers and national institutions.

    The conference will also emphasize the importance of the cooperation between departments within the police and customs cooperation centers for a better law enforcement during operations in border areas. This is third conference taking place on police and customs cooperation. The first one took place during the Belgian EU Presidency and the second one was held during the Polish EU Presidency.

    [06] Cyprus' role for energy sufficiency in Europe discussed during Presidency Conference

    Cyprus' contribution towards the self efficiency of Europe's energy market is vital and will integrate the country even more into the EU, heads of the Agency for the Cooperation of Energy Regulators-ACER and Council of European Energy Regulators-CEER have said.

    Speaking Tuesday at a press conference during the 23rd ACER Assembly which took place at the coastal city of Limassol , in the framework of the Cyprus EU Presidency, ACER Director Alberto Pototshching underlined that in the future Cyprus may play a role as a hub in the energy market in Europe as it finds itself between the energy producing countries of the Middle East and Central Asia and the energy dependent countries of the continental Europe.

    President of the Council of European Energy Regulators (CEER) Lord John Mogg said that both CEER and ACER work closely together in developing the future of Europe's These two bodies work closely together in developing the future of Europe`s energy regulation. The Chairman of the Cyprus Energy Regulatory Authority (CERA) George Shammas noted that the discovery of significant quantities of natural gas reserves in Cyprus' EEZ, constitutes a very positive development in several respects, as far as the geostrategic location and the financial position of Cyprus are concerned.


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